K3 Advisory
K3 Advisory is a UK specialist advisory and broking firm that helps defined benefit pension scheme trustees and sponsors execute bulk annuity transactions and risk settlement deals. Now part of Isio Group, it focuses on small and mid-market schemes, having completed over 100 transactions facilitating £2bn+ in premiums since 2019.
- Company typePrivate
- Founded2018
- HeadquartersLondon, United Kingdom
- Headcount1–10
- GTM typeB2B
- OfferingServices
What K3 Advisory does
K3 Advisory is a UK-based specialist advisory and broking firm focused exclusively on bulk annuity transactions and pension scheme consolidation. Founded in 2018 by Adam Davis and originally backed by the Vestey Holdings Group, the firm was acquired by Isio Group Limited in February 2025 and now operates as part of the Isio group under the K3 brand, with Adam Davis serving as K3 lead and Partner at Isio. K3 provides advisory services to trustees and scheme sponsors of UK defined benefit pension schemes seeking to transfer liabilities to insurers or commercial consolidation vehicles, covering buy-ins, buy-outs, and the full spectrum of risk settlement transactions. The firm has a distinctive focus on small to medium pension schemes that have historically lacked access to the bulk annuity market, with completed transaction sizes ranging from £600,000 to £243m and a cumulative 100+ risk settlement deals facilitating over £2bn in premiums since the first transaction in September 2019.
K3's business model is professional services fee-based, with revenue generated through bespoke advisory and broking engagements priced per transaction based on complexity and scope. The go-to-market combines direct engagement with pension scheme trustees and sponsors with channel partnerships through pension consultancies (notably Cartwright, H&C Consulting Actuaries, Schroders Fiduciary Management, and Western Pension Solutions) and insurer relationships (Just Group, Aviva, Royal London, Canada Life, Rothesay). The combined K3/Isio entity led on approximately 20% of all UK risk settlement transactions by number in 2024. Following the Isio acquisition, K3 has expanded into adjacent services, launching K3 Deal Advisory (a corporate finance and M&A advisory unit incorporating Knight Corporate Finance) in 2026 and acquiring Organon Trustees to add a wealth management division overseeing over £1bn in assets.
Core products include Bulk Annuity Advisory, Buy-in to Buyout Services, Commercial Consolidators Advisory, Pension Consultancies Services, and Small Pension Schemes Advisory. No proprietary technology platform is publicly disclosed; the firm's value proposition rests on deep domain expertise, insurer relationships built through 100+ completed transactions, and unconflicted independent advice combining experience from both the insurance and consultancy sides of the market. K3 is FCA authorised and regulated (reference 944354) and operates from London, serving exclusively UK-based clients.
K3 Advisory firmographics
Firmographics- Name
- K3 Advisory
- Legal name
- K3 Advisory Limited
- Website
- https://k3advisory.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- K3 Advisory is a UK specialist advisory and broking firm that helps defined benefit pension scheme trustees and sponsors execute bulk annuity transactions and risk settlement deals. Now part of Isio Group, it focuses on small and mid-market schemes, having completed over 100 transactions facilitating £2bn+ in premiums since 2019.
- Ownership category
- akta.pro rank
K3 Advisory industry classification
Industry- Product category
- Pension Risk Settlement Advisory
- NAICS
- Agencies, Brokerages, and Other Insurance Related Activities (5242), Portfolio Management and Investment Advice (523940), Pension Funds (525110), Trusts, Estates, and Agency Accounts (52592)
- SIC
- Insurance Agents, Brokers & Service (6411), Investment Advice (6282)
- akta.pro primary industry
- Employer Retirement Plan Advisory (401(k)/Pension) (FSAEABAE)
- akta.pro secondary industries
- M&A Advisory (Buy-Side & Sell-Side) (BPAHAOAA), Insurance Due Diligence & Transaction Risk Advisory (M&A, W&I) (FSAEADAM)
Keywords
Where K3 Advisory is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
K3 Advisory business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Advisory and Broking Services: K3 Advisory provides specialist advisory and broking services for bulk annuity transactions and pension scheme de-risking. Revenue is generated through professional service fees for transaction advisory, scheme preparation, and insurance broking services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Bespoke professional services |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels3 records
K3 Advisory product offering
Product offeringCore offering
K3 Advisory provides specialist independent advisory and broking services to UK defined benefit pension schemes seeking to transfer liabilities to bulk annuity insurers or commercial consolidation vehicles. Its services cover scheme preparation, insurer engagement, pricing negotiation and transaction management across buy-in, buy-out and consolidator transactions, with a particular focus on small to medium pension schemes that have historically had limited access to the bulk annuity market.
Product overview
K3 Advisory is a pension market specialist providing advisory and broking services for bulk annuities and commercial consolidation. Originally founded in 2018 as the first independent specialist in this space, K3 was acquired by Isio Group in February 2025. The company offers a comprehensive suite of services including bulk annuity advisory, buy-in to buyout services, commercial consolidators advisory, and specialized support for pension consultancies and small pension schemes. K3 works with trustees and scheme sponsors to navigate the insurance market, securing competitive pricing through their 'simple and certain' approach. The combined K3/Isio entity has led on approximately 20% of all risk settlement transactions by number.
Differentiator
Problem solved
Functional benefit
Products and services
- Bulk Annuity Advisory Specialist advisory and broking services for UK defined benefit pension schemes seeking to transfer liabilities to bulk annuity providers. The service covers scheme preparation for the market, insurer engagement, pricing negotiation and transaction management, aimed at trustees and scheme sponsors including small and medium schemes that have historically had limited access to the bulk annuity market.
- Buy-in to Buyout Services Advisory services guiding pension schemes through the complete spectrum of risk settlement transactions, from initial buy-in through to full scheme buyout with insurers. The offering is designed for trustees and sponsors undertaking phased or end-to-end de-risking journeys.
- Commercial Consolidators Advisory Specialist advice for pension schemes considering transfer of liabilities to commercial consolidation vehicles (superfunds). The service helps trustees evaluate options, navigate regulatory requirements and run transactions with consolidator providers.
- Pension Consultancies Services Partnership services for other UK pension consultancies and actuarial firms to enhance their bulk annuity capabilities, with K3 providing specialist broking support on a referral or joint delivery basis. Aimed at consultancies that want to offer bulk annuity advice without building a full in-house capability.
- Small Pension Schemes Advisory Specialist services tailored for small to medium UK defined benefit pension schemes, providing access to the bulk annuity market which has traditionally been dominated by larger schemes. The offering includes scheme preparation, insurer engagement and broking services adapted to smaller transaction sizes.
- K3 Deal Advisory A specialist corporate finance, M&A and strategic transaction support unit operating within the K3/Isio group, providing full-service mid-market transaction advisory. The team incorporated Knight Corporate Finance and had completed 50 deals in the 12 months prior to launch.
- Wealth Management Division K3 Advisory Group's wealth management division, overseeing more than £1bn in assets, providing self-invested personal pensions (SIPPs) and small self-administered schemes (SSASs) for high-net-worth clients through the acquired Organon Trustees business.
Quantifiable outcome
- A well-executed transfer of risk can improve the outcome by as much as 10% of the liability value
- +1 more outcomes
Companies that use K3 Advisory
Customer profileNamed customers11 records
Segments1 record
Ideal customer profiles3 records
K3 Advisory technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
K3 Advisory partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and minor.
- SchroderscoreK3 Advisory was engaged by Schroders Fiduciary Management to provide specialist buyout market information and pricing to support Schroders' FM pension fund clients considering their endgame options such as buy-in or buy-out.
- H&C Consulting ActuariescoreH&C Consulting Actuaries partnered with K3 Advisory to enhance their bulk annuity services. K3 became H&C's fourth consultancy partner since launching in January 2019. They have completed multiple transactions together including the £9.3m Carter & Parker buy-in and £2.3m AWH Group deal.
- CartwrightcoreCartwright is K3 Advisory's strategic business-to-business partner. The two firms work together on bulk annuity transactions, with Cartwright providing scheme actuarial, consulting, and administration services while K3 leads on insurer interaction and broking. The partnership has completed multiple transactions including the £260m full buy-in for a global overseas bank.
- Just GroupcoreJust Group is a key insurer partner for K3 Advisory. K3 has completed numerous bulk annuity transactions with Just Group including the £260m full buy-in, £43m full buy-in, and multiple small scheme buy-ins. Just Group's Beacon service provides price monitoring and bulk quotation services.
- AvivacoreAviva has been an insurer partner for multiple K3 transactions including the £2.3m AWH Group deal, £3m Shepherd Foods buy-out, and £9m full buy-in. K3 led the broking process while Aviva provided insurance pricing.
- Royal LondoncoreRoyal London partnered with K3 on the £102m Tennants Consolidated Limited Pension Scheme buy-in. This was Royal London's second external transaction in the bulk annuity market with K3 since entering the market.
- Western Pension SolutionscoreWestern Pension Solutions worked with K3 on multiple transactions including the £66m NG Bailey deal and Sydney Packett & Sons buy-out. They provide strategic pension advice and help schemes prepare for transactions.
- gcTrusteesminorgcTrustees provided professional trustee services for the Clark & Butcher Limited Pension Scheme buy-in transaction coordinated by K3.
Scale indicators6 records
Recent moves7 records
Expansion highlights5 records
K3 Advisory competitors and assessment
Company assessmentBroad incumbents
- Mercer: Global consulting firm with significant UK pensions advisory and bulk annuity capabilities. Overlaps with K3's offerings but serves a much wider range of pension, investment, and HR consulting mandates.
- Aon: Global professional services firm with a large UK pensions advisory practice including bulk annuity broking, actuarial, and risk settlement services. Competes with K3 but as part of a much broader portfolio.
- PwC: Big-4 professional services firm offering UK pensions advisory, actuarial, and risk settlement consulting. Competes with K3 on BPA advisory mandates while operating a much broader consulting portfolio.
- Willis Towers Watson (WTW): Global advisory firm with UK pensions actuarial, de-risking, and bulk annuity advisory services. Competes with K3 on larger scheme mandates while operating a much broader risk and insurance advisory practice.
Direct peers
- Barnett Waddingham: UK actuarial and pensions consultancy providing actuarial, investment, administration, and bulk annuity advisory services. A direct competitor to K3 across the UK DB scheme advisory market.
- Cartwright: UK pensions consultancy and K3's strategic B2B partner. Provides actuarial, consulting, and administration services for pension schemes and works jointly with K3 on bulk annuity transactions.
- Isio Group: UK pensions advisory firm and parent company of K3 since February 2025. Provides actuarial, consulting, fiduciary management, and bulk annuity advisory services across the UK pension scheme market, directly overlapping with K3's core offerings.
- Hymans Robertson: Major UK actuarial and pensions consultancy offering bulk annuity advisory, de-risking strategy, and trustee services. A direct competitor to K3 in serving UK defined benefit pension schemes seeking BPA transactions.
- XPS Pensions Group: UK-focused pensions consulting and administration firm with actuarial advisory and de-risking capabilities. Directly comparable to K3 in serving trustees of UK defined benefit schemes.
- Lane Clark & Peacock (LCP): UK pensions, investment, and insurance consultancy with strong bulk annuity and de-risking advisory practice. Competes directly with K3 in advising trustees and scheme sponsors on BPA transactions.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
K3 Advisory social profiles
Digital presenceK3 Advisory compliance and trust
Trust signalCompliance1 record
K3 Advisory financial estimates
Financial estimateRevenue estimate
Valuation estimate
K3 Advisory leadership team
Management profileNumber of profiles
Profiles6 records
K3 Advisory subsidiaries and ownership
Company hierarchySubsidiaries1 record
K3 Advisory funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
K3 Advisory M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about K3 Advisory
What does K3 Advisory do?
K3 Advisory provides specialist independent advisory and broking services to UK defined benefit pension schemes seeking to transfer liabilities to bulk annuity insurers or commercial consolidation vehicles. Its services cover scheme preparation, insurer engagement, pricing negotiation and transaction management across buy-in, buy-out and consolidator transactions, with a particular focus on small to medium pension schemes that have historically had limited access to the bulk annuity market.
Is K3 Advisory a public or private company?
K3 Advisory is a private company. It is classified as corporate owned and is currently operating.
When was K3 Advisory founded?
K3 Advisory was founded in 2018. It employs 1 to 10 people.
Where is K3 Advisory based?
K3 Advisory is headquartered in London, United Kingdom, in the Europe region.
How does K3 Advisory make money?
One revenue line is on record: advisory and Broking Services.
Who are K3 Advisory's main competitors?
Broad incumbents on record are Mercer, Aon, PwC and Willis Towers Watson (WTW). Direct peers are Barnett Waddingham, Cartwright, Isio Group, Hymans Robertson, XPS Pensions Group and Lane Clark & Peacock (LCP).
Does K3 Advisory have an API?
No public API is recorded for K3 Advisory.
What industry is K3 Advisory in?
K3 Advisory's product category is Pension Risk Settlement Advisory. Its primary akta.pro industry code is FSAEABAE, Employer Retirement Plan Advisory (401(k)/Pension), with a secondary code of BPAHAOAA, M&A Advisory (Buy-Side & Sell-Side). Its NAICS code is 5242 and its SIC code is 6411.